Saks Off 5th has introduced a new loyalty program in a bid to encourage repeat customers to shop more.
The new program called “Off 5th Rewards” launched on Wednesday as a tender-neutral, tiered loyalty program where customers can earn points on every purchase and receive other benefits such as free shipping and access to special member-only sales and events.
Saks Off 5th said in a statement that it came up with the program after extensive customer research, which found a “significant opportunity” to better serve its target customers through a tender-neutral loyalty program, means customers don’t have to sign up and use a Saks credit card. Off 5th Rewards replaces the “More” loyalty program that was phased out.
Through the new program, customers can now earn points for every dollar they spend at saksoff5th.com, on the Saks Off 5th mobile app or at Saks Off 5th stores in the U.S., with points earned per dollar increasing with tier status. Once a customer accrues 500 points, they receive a five dollar reward, redeemable in-store or online.
Customers can reach three different tiers in the program. “Star” members who spend up to $299 receive two points for every one dollar spent, a birthday reward and access to special bonus promotions. The “Icon” level is for members who spend between $300-$1,499 and will receive three points for every one dollar spent, a birthday reward, free standard shipping and access to special bonus promotions, members-only sales and events. And it’s “OFFicial” level, which is for members who spend over $1,500, will earn four points for every dollar spent, a free birthday reward, free expedited shipping, access to special bonus promotions, members-only sales and events and a special gift.
“Off 5th Rewards was created to provide additional value to our loyal customers in a simple yet impactful way,” said Sara Griffin, SVP of marketing at Saks Off 5th. “Nearly 90% of Saks Off 5th customers shared with us that they would be interested in participating in a tender-neutral program. We’re excited to launch Off 5th Rewards as a direct result of this customer feedback and continue to enhance our personalized shopping experience.”
This launch follows the rebrand Saks Off 5th unveiled in March 2021. At the time, the retailer introduced the tag line, “Where Fashion Takes Off,” and began to emphasize inclusiveness, diversity and cultivating self-expression. “We have really increased our marketing spend to increase brand awareness,” Griffin said at the time, without disclosing the marketing spend in dollars.
In June 2021, Saks Off 5th split its e-commerce and store businesses into separate companies and Insight Partners invested $200 million into Off 5th, valuing it at roughly $1 billion. This mirrored the separation of its sister full-price banner Saks Fifth Avenue into separate dot-com and brick-and-mortar businesses in March 2021.